The Bovanenkovo-Ukhta 2 pipeline will transport 263 million m3/d of natural gas from Ukhta to northern Europe. The pipeline is operated by Russia’s Gazprom.

The two oil pipelines were constructed by Transneft. Both pipelines will be able to carry oil from new oilfields in the Yamal-Nenets Autonomous District and Krasnoyarsk Territory.

At the pipeline ceremony, Putin commented: “[The pipelines] will substantially expand our oil and gas sector’s possibilities and will have tangible benefits for the entire Russian economy. This is indisputable. What is particularly important is that they will contribute to the regions’ development as well.”